Brown-Forman Investor Relations Material

The Brown-Forman Corporation, often referred to simply as Brown-Forman is an American spirits and wine producer. The company is headquartered at the geographical center of the American alcohol industry: Louisville, Kentucky. Brown-Forman manufactures and markets a long range of different alcoholic beverage brands, including Jack Daniels, Diplomatico Rum, Old Forester, and more. The company is listed on the NYSE.

Brown-Forman was founded in 1870 by George Garvin Brown during a time when the spirits industry was rife with inconsistent product quality. Brown, a young pharmaceutical salesman, envisioned a better way to ensure quality and purity. He started with Old Forester Bourbon, which was notable for being the first bourbon to be sold exclusively in sealed bottles—a significant departure from the common practice of selling bourbon in barrels. This sealed bottling not only guaranteed authenticity but also protected the consumer from tampering and adulteration. The business flourished, and in 1890, George partnered with his accountant, George Forman, leading to the renaming of the company as "Brown-Forman."

The company’s is active in the production, marketing, and distribution of alcoholic beverages across the globe. The company manages a diverse portfolio that includes various types of spirits, such as whiskies, bourbon, vodka, and wine. Its range of products caters to a broad spectrum of consumer preferences, reflecting both traditional crafting methods with its core products and modern approaches to spirit and wine production.

Operating as a conglomerate is nothing unique in the industry, and other examples of this type of corporate structure include Pernod Ricard, Diageo, and even LVMH.

The Brown family has been the driving force behind Brown-Forman Corporation since its inception in 1870. Over the generations, the Brown family has remained deeply involved in the company's operations and leadership. Even today, descendants of George Garvin Brown hold significant positions within the company and continue to influence its strategic direction.